Martin Marietta Materials released the results for the second quarter. The company reported consolidated net sales of $850.2, a 41 percent increase compared to the second quarter of 2014. The aggregates product line volume increased 7.8 percent and the aggregates product line price increased 8.5 percent compared to last year’s second quarter. In addition, Martin Marietta had cement business net sales of $100.4 million, a gross profit of $30.4 million and EBITDA of $37.8 million.
In the second quarter of 2015, the heritage aggregates product line shipments increased 0.7 percent, excluding shipments from the third-quarter 2014 divestiture of three operations from the prior-year quarter, reports the company. The nonresidential market represented 32 percent of quarterly heritage aggregates product line shipments, and the residential end-use market accounted for 16 percent of quarterly heritage aggregates product line shipments.
“Second-quarter results reflect continued strong performance,” says Ward Nye, chairman, president and CEO of Martin Marietta. “Among other things, each heritage aggregates business reportable segment significantly improved gross profits, generating an incremental gross margin contribution in line with, or exceeding, our stated objectives. This result was achieved despite historic levels of rainfall throughout the United States, and notably in Texas.”
According to Martin Marietta, both nonresidential and residential construction are expected to increase throughout the year. Additionally, energy-related economic activity, including follow-on public and private construction activities in the company’s primary markets, is expected to remain strong.
Risks that could affect the company’s full-year outlook include federal highway funding and detrimental weather.
